What's News: J.C. Penney fires Ron Johnson as CEO after 17 months at the helm. The U.S. is preparing to deploy a laser weapon to the Persian Gulf. LG moves to increase its retail presence. Louisville wins an NCAA title. Joanne Po reports. Photo: AP.

This transcript has been automatically generated and may not be 100% accurate.

... J C Penney CEO the thinking out this is what's news at this hour I'm WS J lifetime Thailand Co ... this is just the exact approach from Apple's seventeen months ago Feyenoord after a major overhaul of the retailer's stores ... for distant disasters drop in sales ... Mr. Johnson's predecessor ... Myron Bowman will return to the company as CEO ... Mr. Bowman bases decisions about whether or not to stick with the changes underway at the company will call them back ... and the U S is preparing to deploy an experimental laser weapon to the Persian Gulf ... in eighty unveiling plans to place a forty million dollar laser cannon ... on a US ship where he could deter attacks from small Iranian attack boats which have been a persistent problem ... while still in development the laser has succeeded in tests ... and uses directed energy to purples to a plane or ship ... meantime LG is expanding its retail stores in emerging markets the Flextronics makers seeking to increase market share in smartphones and build a stronger global presence ... the company plans to increase the number of stores in India the Middle East and Africa ... and it was in the cards for Louisville Cardinals rely on strong defences route the season defeating Michigan ... eighteen to seventy six to win the NC double A Championship ... Louisville head coach Nick Zito becomes the first coach to win national championships at different schools ... bookie keep us anomaly business about Mr upbeat and what's his aunt the beest ladder ...